Penalty u/s 271B Overturned Due to Exceeding Limitation Period; 30-Month Delay Invalidates Penalty Proceedings.

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....Penalty u/s 271B - Tax Audit - delay in getting the books of accounts audited and furnishing the same - period of limitation for passing penalty orders - the levy of penalty by the assessing officer after passage 30 months after the completion of the assessment, we are of the opinion that the penalty proceedings are barred by limitation and consequently penalties levied under section 271B cannot be sustained - AT....